In the business, the term pricing denotes the seller’s way of setting the purchase prices of the goods and services products. However, the pricing strategy describes how the seller pursues the sales and marketing aims through the pricing. The model essentially delivers the instructions or rules for setting the prices and generating the margins. An effective pricing strategy is directly on the basis of pricing research which cultivates you in realizing the consumer’s willingness to pay in order to monitor an effective and proficient cost for your fresh produce.
The seller accepts the pricing strategy with the pricing model. There are different pricing analytics models and tools namely Gabor-Granger, Conjoint Analysis, Van Westendrop Price Sensitivity Monitor and Brand Price Trade-OFF (BPTO) approach which can be optimized to formulate a pricing strategy which positively ensures profitability and growth in your business.
Our market research reports will contribute you the insights to competitor’s product and pricing analysis which will directly assist you in benchmarking your strategy with your challenger. Competitive intelligence will aid you to understand the greatest practice in business which will support you to espouse an appropriate pricing strategy. Nonetheless, we effectively examine the competitive landscape for you and best offers deliver by the competitors to know where your prices stand against theirs.
We also monitor who else sells the same products you sell, and who offers substitute products to yours? We actively identified your competitors; find the average market price of a product. Then, we proficiently calculate the price index for all your products. Furthermore, throughout our existence, we have been saying that pricing is a process that optimizes data to abolish as much doubt of yours as possible for foremost stakeholders to generate profit-maximizing decisions.
We keep collecting the proficient information; notice the trends and patterns in the competitor behavior. With our research reports, you will find out their off-season discount calendar, the products they discount principally, how much they augment the prices. We initially analyze this information, so that you will react to their pricing strategies without observing a loss.
Not only has this, we also analyze the historical price data. Which price points attracted the ample amount of consumers, which products are more adaptable than others, and what has transformed in the terms of your competitive potential since the starting of the year? We extract above and many other insights from the historical price data more proficiently.
Our research reports distribute you the metrics and supplementary tools utilized to realize how pricing activities affect the inclusive business and help you in analyzing the profitability of the detailed price points. With our data of research reports, you hurriedly study which buyers are most likely to obtaining and exactly how much they worth your explanation to their situations. The observation from our pricing analytics boost you in being more operative and valuable business and embolden you for making pricing decision more dynamically, and fixing a fair price for shoppers that matches the worth you deliver.
Ankur Gupta, Head Marketing & Communications